Economics, CourseSmart eTextbook, 5th Edition

Description

For two-semester Principles of Economics courses at two- and four-year colleges and universities

Reveal the relevance of economics through real-world business examples

One of the challenges of teaching Principles of Economics is fostering interest in concepts that may not seem applicable to students’ lives. Economics, Fifth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path—opening an art studio, trading on Wall Street, or bartending at the local pub—students will benefit from understanding the economic forces behind their work.

This program provides a better teaching and learning experience—for you and your students. It will help you to:

• Show students how economics is relevant: Relatable features ground course material in the real world, showing students how these ideas are relevant and facilitating understanding.• Foster thorough understanding via a flexible, student-focused approach: An engaging, captivating writing style and student-friendly learning aids motivate and engage students.

Table of Contents

I. Introduction1. Economics: Foundations and Models2. Trade-offs, Comparative Advantage, and the Market System3. Where Prices Come From: The Interaction of Demand and Supply4. Economic Efficiency, Government Price Setting, and Taxes

II. Markets in Action5. Externalities, Environmental Policy, and Public Goods6. Elasticity: The Responsiveness of Demand and Supply

III. Firms in the Domestic and International Economies7. The Economics of Health Care8. Firms, the Stock Market, and Corporate Governance

IV. Microeconomic Foundations: Consumers and Firms9. Comparative Advantage and the Gains from International Trade10. Consumer Choice and Behavioral Economics